CUSTOMER ASSETS Clause Samples
The 'Customer Assets' clause defines how assets provided by the customer—such as data, equipment, or intellectual property—are to be handled by the service provider during the course of the agreement. It typically outlines the provider’s responsibilities for safeguarding, using, and returning these assets, and may specify restrictions on their use or requirements for their protection. This clause ensures that customer-owned assets are properly managed and protected, reducing the risk of loss, misuse, or unauthorized access.
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CUSTOMER ASSETS. 11.1 Interest is not payable by 24HMarkets on client funds deposited by Customer.
11.2 All funds, securities, currencies, and other property of Customer which 24HMarkets or its affiliates may at any time be carrying for Customer (either individually, jointly with others, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by 24HMarkets as security and subject to a general lien and right of set-off for liabilities of Customer to 24HMarkets whether or not 24HMarkets has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Customer mayhavewith 24HMarkets.
11.3 24HMarkets may in itsdiscretion, at anytime and from timetotime, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts.
11.4 Customer hereby also grants to 24HMarkets the right to pledge, re-pledge, hypothecate, investor loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by 24HMarkets as margin or security.
11.5 24HMarkets shall at no time be required to deliver to Customer the identical property delivered to or purchased by 24HMarkets for any account of Customer.
11.6 This authorization shall apply to all accounts carried by 24HMarkets for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by 24HMarkets from its home office.
CUSTOMER ASSETS. 11.1 Customer funds will be held in accordance with the ‘Client Asset Requirements’ issued by the Central Bank.
11.2 Interest is not payable by AvaTrade on client funds deposited by Customer.
11.3 All funds, securities, currencies, and other property of Customer which AvaTrade or its affiliates may at any time be carrying for Customer (either individually, jointly with others, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by AvaTrade as security and subject to a general lien and right of set-off for liabilities of Customer to AvaTrade whether or not AvaTrade has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Customer may have with AvaTrade.
11.4 AvaTrade may in its discretion, at any time and from time to time, without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customer’s accounts.
11.5 Customer hereby also grants to AvaTrade the right to pledge, re-pledge, hypothecate, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, any securities or other property of Customer held by AvaTrade as margin or security.
11.6 AvaTrade shall at no time be required to deliver to Customer the identical property delivered to or purchased by AvaTrade for any account of Customer.
11.7 This authorization shall apply to all accounts carried by AvaTrade for Customer and shall remain in full force until all accounts are fully paid for by Customer or notice of revocation is sent by AvaTrade from its home office.
11.8 Any failure by AvaTrade to enforce its rights hereunder shall not be deemed a future waiver of such rights by AvaTrade.
11.9 AvaTrade is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that AvaTrade deems necessary or desirable to evidence or to protect AvaTrade’s interest with respect to any collateral.
11.10 In the event that the collateral deemed acceptable to AvaTrade is at any time insufficient to satisfy Customer’s indebtedness or other obligations to Ava, including obligations to provide margin her...
CUSTOMER ASSETS. 10.1 Interest is not payable by Company on client funds deposited by Customer.
10.2 All funds, securities, currencies, and other property of Customer which Company or its affiliates may at any time be carrying for Customer (either individually, jointly with others, or as a guarantor of the account of any other person,) or which may at any time be in its possession or control or carried on its books for any purpose, including safekeeping, are to be held by Company as security and subject to a general lien and right of set-off for liabilities of Customer to Company whether or not Company has made advances in connection with such securities, commodities, currencies or other property, and irrespective of the number of accounts Customer may have with Company.
10.3 Company shall at no time be required to deliver to Customer the identical property delivered to or purchased by Company for any account of Customer.
10.4 Any failure by Company to enforce its rights hereunder shall not be deemed a future waiver of such rights by Company.
10.5 Company is irrevocably appointed as attorney in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that Company deems necessary or desirable to evidence or to protect Company’s interest with respect to any collateral.
10.6 In the event that the collateral deemed acceptable to Company is at any time insufficient to satisfy Customer’s indebtedness or other obligations to Company, including obligations to provide margin hereunder, Customer shall promptly pay upon demand the entire amount of such deficit.
10.7 Customers trading on the company platform agree to the transfer of full ownership of funds to Company for the purpose of securing or otherwise covering a required margin and as such the required margin will no longer be treated as belonging to the Customer. Company will deposit the required margin as collateral with its liquidity provider(s). These funds will not be registered in the customer’s name. Funds deposited by the Customer in excess of the required margin will be treated as client funds in accordance with the Client Asset.
CUSTOMER ASSETS. (a) Customer shall provide such Customer Assets to BreconRidge for use by BreconRidge in support of the Work as the parties may from time to time specify in the Statements of Work. BreconRidge may not use the Customer Assets for any purpose, other than the provision of Work under this Agreement, without the prior written consent of Customer. Customer shall retain all right, title and interest in the Customer Assets. Customer shall provide all operating and maintenance instructions related to the Customer Assets that it has available and represents that, at the time of delivery, any Customer Asset is suitable for the purpose for which it is provided to BreconRidge.
(b) Customer and BreconRidge shall agree upon a reasonable acceptance testing process to allow BreconRidge to verify, in accordance with industry practice, that Customer Assets are in good working condition and are eligible for maintenance. BreconRidge shall not be required to assume responsibility for the maintenance of a Customer Asset until it has been accepted in accordance with the aforementioned process. BreconRidge’s responsibility for the maintenance of a Customer Asset, once such Customer Asset has been accepted, shall include calibration maintenance, on-site trouble shooting (using trouble shooting equipment on site) and test capacity planning and provided that Customer shall reimburse BreconRidge for out-of-pocket expenses paid to third parties in respect of such maintenance in accordance with a purchase order or quotation approved in advance by Customer. BreconRidge shall support remote access by Customer through a VPN to those Customer Assets that are to be used as test equipment provided that Customer shall reimburse BreconRidge for out-of-pocket expenses paid to third parties in respect of such remote access in accordance with a purchase order or quotation approved in advance by Customer.
(c) Upon termination or expiration of a Statement of Work or this Agreement or at such other time as any Customer Asset is no longer required by BreconRidge, BreconRidge shall return at Customer’s expense the applicable Customer Asset to Customer in an orderly manner. Any Customer Asset returned to Customer shall be returned in substantially the same condition as originally delivered by Customer to BreconRidge, reasonable wear and tear or similar depreciation excepted. BreconRidge shall bear the risk of loss and damage in respect of Customer Assets while in BreconRidge’s possession or control.
(d)...
CUSTOMER ASSETS. All Customer Assets will be and will remain the property of Customer or Customer's Third Party licensors (as applicable), and, as between Customer and Sabre, any derivative work, modification, updates or enhancements made by Sabre thereto will (subject to SECTIONS 4.4 and 4.5) be owned by Customer.
CUSTOMER ASSETS. 9.1 Interest is not payable by VirtuFinance on client funds deposited by Customer.
CUSTOMER ASSETS. 10.1 The Company does not pay any interest on the funds that the client deposits.
10.2 Any funds, securities, currencies, or other property belonging to the client that are in the possession or control of the Company or its affiliates, either individually or jointly with others, are held as security and are subject to a general lien and right of set-off for any liabilities the client may have to the Company. This applies regardless of whether the Company has made any advances in connection with such property or the number of accounts the client may have with the Company.
10.3 The Company is not required to deliver the same property back to the client that was delivered or purchased for the client's account.
10.4 The Company's failure to enforce its rights does not waive its rights under this agreement.
10.5 The Company is appointed as the client's attorney-in-fact and is authorized to take any actions deemed necessary or desirable to protect the Company's interest in any collateral, including the execution, delivery, and filing of financing statements, without notice to the client.
10.6 If the collateral provided by the customer is not enough to cover their debt or obligations to the company, including the obligation to provide margin, the customer must promptly pay the remaining amount upon demand.
10.7 Customers who trade on the company platform agree to transfer full ownership of their funds to the company for the purpose of securing or covering required margin. The required margin will no longer belong to the customer and will be deposited by the company as collateral with its liquidity providers. These funds will not be registered in the customer's name. Any funds deposited by the customer in excess of the required margin will be treated as client funds in accordance with the Client Asset.
CUSTOMER ASSETS. The Company has sole custody and control of and maintains adequate insurance coverage (directly or as an additional insured on customer policies) on all materials, supplies, parts or other assets delivered to the Company by or on behalf of its customers for use in connection with projects the Company undertakes for such customers (the “Customer Assets”). No material amount of the Customer Assets has been damaged, lost, stolen, or otherwise suffered a material diminution in value from the time of receipt by the Company and the Company has not received notice of any claim, loss or damage related to the Customer Assets.
CUSTOMER ASSETS. At the request of Customer, BreconRidge will reasonably co-operate with and assist Customer in the de-installation, packing and shipping of Customer Assets to locations specified by Customer . Without limiting the foregoing, BreconRidge will permit Customer at all reasonable times, to inspect and test the Customer Assets. The cost of such assistance, de-installation, packing and shipping shall be invoiced to the Customer.
CUSTOMER ASSETS. At the request of Customer, Flextronics will reasonably co-operate with and assist Customer in the de-installation, packing and shipping of Customer Assets to locations specified by Customer. Without limiting the foregoing, Flextronics will permit Customer at all reasonable times, to inspect and test the Customer Assets. The cost of such assistance, de-installation, packing and shipping shall be invoiced to the Customer.